Editorial operations at NYTD and their potential impact on the New York Times brand
continued to be an area of concern. Over several decades, the newspaper industry had adopted the
separation of editorial operations and business operations as a sacred principle. The principle
developed because in the industry’s early years, many unscrupulous owners would do anything
necessary to sell their product. Over time, readers lost trust. NYTD executive vice-president Lincoln
Millstein described how the industry survived: